AAA: Average gas prices in MI fall 12 cents

Fuel prices maintain slow decline

Gas prices continue to fall in metro Detroit, still higher than last year

Local gas prices jumped with a couple of weeks of their biggest amount in six years after Hurricane Harvey shut down many refineries and forced the Colonial Pipelines to temporarily cease deliveries in the Southeast.

He said that the reason gas prices haven't come back down to pre-Harvey levels is complex.

Kentucky prices yesterday were 25 cents per gallon higher than the same day one year ago and are 16 cents per gallon higher than a month ago.

Nationwide, prices fell 5.5 cents per gallon last week for an average cost of $2.55, GasBuddy says. Companies have reported that roughly two dozen storage tanks holding crude oil, gasoline and other fuels collapsed or otherwise failed during Harvey, spilling a combined 140,000 gallons of fuel, according to an Associated Press analysis of state and federal accident databases.

An emailed market report from GasBuddy.com, however, said the price drop was so intense that the Great Lakes market may be primed for a "reset" over the next few days.

Tennessee's average gas prices have declined steadily for the last two weeks by a total of 8 cents since peaking at $2.60 on September 10.

Gas prices are dropping, and they're expected to drop a lot more.

Including the change in gas prices in Texas during the past week, prices yesterday were 51.5 cents per gallon higher than the same day one year ago and are 28.3 cents per gallon higher than a month ago. A month ago (before Hurricane Harvey), it was $2.07.

In Paducah, prices ranged from $2.31 to $2.48.

AAA Michigan says gas prices statewide have fallen by about 12 cents per gallon in the past week.

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